Exegy Adds IEX Data as its First Direct Source
Market data managed services and technology provider Exegy has taken a step to be a direct source of some US National Market System (NMS) data itself, with an announcement of the addition of IEX (The Investors Exchange) data to its X-Port market data vending service. “We are offering a more complete direct feed for the...
Blockchain Could Shorten Settlement Time, Paxos Exec Says
Another frontier for application of blockchain distributed ledger technology could be shortening the settlement cycle for trades, says an executive at Paxos, the blockchain technology company that completed a pilot program with Euroclear in December for gold transaction settlement. Paxos is planning to roll out its gold transaction settlement capabilities more widely in 2017, building...
West Coast Hedge Fund Reduces Trade Errors With LiquidityBook
Since San Francisco-based multi-strategy hedge fund Pier 88 Investment Partners implemented LBX Buyside POEMS (Portfolio, Order and Execution Management System) from service provider LiquidityBook in the third quarter of 2016, the fund has eliminated trade errors, gotten greater transparency and enhanced its networking capability. Pier 88’s trade execution and portfolio management has had “very noticeable”...
Tullett Prebon To Feed Data To Murex Trading Platform
Trading, risk and processing solutions provider Murex has partnered with Tullett Prebon Information (TPI) to use its real-time, end-of-day and historic price information for internal model validation, gaining independent and accurate data to feed the Murex platform, according to officials of the companies. “TPI content comes directly from the trading operations of our global brokerage...
ESMA Raises Alarm About Systematic Internalisers
The European Securities and Markets Authority’s chair, Steven Maijoor, has raised an issue concerning the use of systematic internalisers (SIs) to circumvent MiFID II rules, writing to European Commission director general Olivier Guersent earlier this month. In a letter dated February 1 and released to the public on February 14, Maijoor wrote that market participants...
When Is Lower Latency Worth The Effort?
Shaving response times by nanoseconds can produce value in high-frequency trading, but the cost of achieving that size of an improvement in latency, in resources and time, can be too high for trading of more complicated types of securities, according to low-latency services and market access platform providers. “High frequency traders are responding at a...
ICE Atrium Acquisition Streamlines New York-Toronto Low Latency Ties
The Intercontinental Exchange’s (ICE) acquisition of TMX Atrium, the wireless and extranet infrastructure services business owned by Canadian exchange operator TMX Group, could expand the low latency networks available to customers of ICE’s NYSE subsidiary. Following ICE’s acquisition of Interactive Data in December 2015, that company’s 7ticks low latency network was integrated with NYSE’s Secure...
As New Regulation Arrives, Europe Can Expect More Trading Venues
Experts on the European execution venue landscape are split on whether the future of that landscape is consolidation or fragmentation, as they expressed in a panel discussion on the topic at the Intelligent Trading Summit in London on 2nd February. Multi-lateral trading facility (MTF) activity has increased, according to Will Winzor-Saile, an execution architecture...
Outside Partnerships Bolster Trade Execution Infrastructures
Partnership is the most important ingredient for optimising the performance of trading infrastructure and reducing its complexity, say operations executives who spoke at the Intelligent Trading Summit in London on 2nd February. Regulatory compliance issues are gaining on cost and value as the biggest consideration, however, according to the executives. Partnership efforts address the need...
Proving Best Execution Depends On Collecting More Data
The best way to accomplish all the aspects of ensuring best execution of trades in a manner compliant with Europe’s MiFID II regulation taking effect next year is by gathering all data, market history and relevant information in one place, says Dermot Harriss, senior vice president at OneMarketData, who spoke in a January 26 webinar,...